Clean up your pockets Created by rreker on 11/16/2013 9:33:48 AM
Good news for your wallet. It won't save you any money or make you more secure... but it will save you space:
The idea of One Coin is a good one - consolidate all the cards you keep in your wallet so you don't have to sit on them and throw your back out of alignment. But I'm going to pull a Dave Ramsey idea on you. If you're carrying around 5 credit cards regularly... you've got bigger problems to deal with.
It's a neat idea to have one card to rule them all. But there's a huge potential of fraud here. Imagine you give your credit card to a server and they take it in the back. What's stopping them from snapping a photo of your card and adding it to their Coin card -- and using it later? Or how about if the battery stops working on it and you're on vacation -- without any money? OR better yet -- how do you like that this company now has access to EVERY ONE OF YOUR CREDIT CARDS because you uploaded them to their app?
But I think the good outweighs the bad here. I'm sure there's investors that will line up to back this card. Facebook or Google will probably buy them out for a billion dollars so they can get access to even more of your personal data. Credit card companies have a hard enough time keeping your personal data safe, so how trust worthy is this company? From the looks of the video -- it will take just one person leaving a laptop at a coffee house before your identity is compromised.
But enough of the bad... this does have some great potential... if you're a hacker.